19 556 m² Commercial space in Mthata

PRIME MEDICAL-RELATED RESIDENTIAL INVESTMENT SISSON STREET

For Sale: R246,750,000 | 315-Unit Apartment Complex | Fully Tenanted | ROI: 12%

Presenting an exceptional, high-yielding residential investment opportunity with an unparalleled tenant covenant. This 315-unit apartment complex is strategically located to serve two major healthcare institutions and is fully occupied under two secure, long-term contracts, delivering a robust 12% return on investment.

Investment Overview:

This well-maintained residential complex comprises multiple separate blocks across a vast 46,440m site. It offers a unique and secure income stream, purpose-built to house healthcare professionals and staff from the adjacent hospitals, ensuring consistent, guaranteed occupancy.

Unmatched Investment Highlights:

Exceptional, Secure Yield: Generating a formidable 12% Return on Investment, this asset provides a stable and predictable income with significant upside potential.

Institutional-Grade Tenancy: 100% occupancy is secured via two direct contracts with major public sector tenants:

Nelson Mandela Academic Hospital (NMAH)

Umtata General Hospital (UGH)

This virtually eliminates tenant default risk and voids costly leasing commissions and vacancy rates.

Unbeatable Proximity to Anchor Tenants:

700m (2-minute drive) to Nelson Mandela Academic Hospital

1.1km (3-minute drive) to Umtata General Hospital

The location is irreplaceable for its target tenant market, guaranteeing perpetual demand.

Significant Scale & Land Value: The portfolio consists of 315 individual apartments with a total floor area of 19,556m, situated on a massive 46,440m erf, offering potential for future densification or development (subject to approvals).

Secure & Managed Complex: The asset includes extensive covered and open parking and is secured by a controlled access point with a guard house, ensuring the safety of tenants and the security of the investment.

Financial & Property Details:

Asking Price: R246,750,000

Total Floor Area: 19,556m

Rate per m: R12,620

Land Size (Erf): 46,440m

Number of Units: 315 Apartments

Return on Investment (ROI): 12%

Occupancy: 100% (Fully Tenanted)

This is a rare opportunity to acquire a substantial, purpose-driven residential asset with a government-backed income stream. It is ideal for institutional investors, property funds, and syndicates seeking a low-management, high-performance investment with defensive characteristics.

For a detailed financial breakdown, tenant contracts, and a confidential viewing, please contact Taps.